{"title":"Functional Equivalence: An Exploration Through Shortcomings to Solutions","authors":"Anne Veerpalu","doi":"10.2478/bjlp-2019-0015","DOIUrl":null,"url":null,"abstract":"Abstract Since the emergence of cyberspace there have been different legal principles evolving, such as functional equivalence and technology-neutrality, with the aim to ease the regulator´s challenge of coping with the new paradigm of virtual, digital and electronic. Currently our societies have reached the doorstep of another similar disruption: infrastructures decentralized on the basis of blockchain and distributed ledger technology, or so-called cryptoeconomics. It is time to turn to cyberspace-related principles for inspiration on how to solve similar concerns, such as applying existing regulation(s) to new technological disruption. This article looks at different understandings of the functional equivalence principle, its shortcomings and the guidance it provides to regulators and courts in dealing with the challenges related to technological innovation including that of cryptoeconomics.","PeriodicalId":38764,"journal":{"name":"Baltic Journal of Law and Politics","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Baltic Journal of Law and Politics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2478/bjlp-2019-0015","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 1
Abstract
Abstract Since the emergence of cyberspace there have been different legal principles evolving, such as functional equivalence and technology-neutrality, with the aim to ease the regulator´s challenge of coping with the new paradigm of virtual, digital and electronic. Currently our societies have reached the doorstep of another similar disruption: infrastructures decentralized on the basis of blockchain and distributed ledger technology, or so-called cryptoeconomics. It is time to turn to cyberspace-related principles for inspiration on how to solve similar concerns, such as applying existing regulation(s) to new technological disruption. This article looks at different understandings of the functional equivalence principle, its shortcomings and the guidance it provides to regulators and courts in dealing with the challenges related to technological innovation including that of cryptoeconomics.
期刊介绍：
Baltic Journal of Law & Politics (BJLP) is a scholarly journal, published bi-annually in electronic form as a joint publication of the Faculty of Political Science and Diplomacy and the Faculty of Law of Vytautas Magnus University (Lithuania). BJLP provides a platform for the publication of scientific research in the fields of law and politics, with a particular emphasis on interdisciplinary research that cuts across these traditional categories. Topics may include, but are not limited to the Baltic Region; research into issues of comparative or general theoretical significance is also encouraged. BJLP is peer-reviewed and published in English.
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